Bank Failure
Westside Community Bank
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Closed January 11, 2013 · University Place, WA · FDIC Cert #33997.
- Closing date
- January 11, 2013
- Headquarters
- University Place, WA
- FDIC Certificate
- 33997
- Total assets at closing
- $91.9M
- Total deposits at closing
- $91.9M
- Estimated loss to the insurance fund
- $22.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Sunwest Bank
Context
On January 11, 2013, regulators closed Westside Community Bank, headquartered in University Place, WA. At closing, the institution held approximately $91.9M in assets and $91.9M in deposits. The FDIC record names Sunwest Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $22.9M.
By assets at closing this is the 1255th largest of the 3,526 bank failures in the FDIC record, and the 13th of 24 in 2013. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Westside Community Bank fail?
Westside Community Bank was closed by regulators on January 11, 2013.
Who acquired Westside Community Bank?
The FDIC record names Sunwest Bank as the acquiring institution in the resolution of Westside Community Bank.
How big was Westside Community Bank when it failed?
Westside Community Bank had approximately $91.9M in total assets and $91.9M in deposits at the time of failure.
Other failures in 2013
| Date | Bank | Assets |
|---|---|---|
| Dec 13, 2013 | Texas Community Bank, N.A. | $159.3M |
| Oct 30, 2013 | Bank of Jackson County | $24.7M |
| Sep 13, 2013 | First National Bank | $3.09B |
| Sep 13, 2013 | The Community's Bank | $26.4M |
| Aug 23, 2013 | Community South Bank | $386.9M |
| Aug 23, 2013 | Sunrise Bank of Arizona | $202.2M |
| Aug 9, 2013 | Bank of Wausau | $43.6M |
| Aug 2, 2013 | First Community Bank of Southwest Florida | $247.3M |
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